The moves were widely seen as punishment for Canada’s arrest of Meng Wanzhou, chief financial officer of the Chinese telecom company Huawei. China has also suspended the license of two major Canadian … ( read…
Tagged By banking
WRAPUP 1-China’s big banks post modest Q1 profit growth
Net profits at the country’s so-called Big Five banks, led by Industrial and Commercial Bank of China Ltd (ICBC) , grew by more than 4 percent in the January-March quarter from a year earlier. The…
Tensions with China ‘do not play out in our project at all’: LNG Canada CEO
OTTAWA — The head of LNG Canada says Ottawa’s trade and diplomatic frictions with Beijing have had no impact on the massive project that will one day ship liquefied natural gas from British Columbia ……
Four’s the Magic Number for China’s Banks
China’s banks doled out a fifth more loans in the first quarter than a year earlier, so profit increases shouldn’t be surprising. What’s striking is just how small – and similar – those gains are.…
Andrew Scheer demands Canada pull funds from Chinese development bank in retaliation for canola ban
Among the steps, Scheer will call on Trudeau to cut Canada’s funding to China’s Asian Infrastructure Investment Bank, to which the government has committed $256 million over five years. ( read original story …)
Chinese bank profits rise, but so do bad loans
Industrial & Commercial Bank of China (ICBC) — the world’s largest bank by assets and several other yardsticks — posted a net profit of 82.0 billion yuan in the January-March period, up 4.1 percent. (…
MGM China Reports 2019 First Quarter Financial Data
Adjusted EBITDA Up 27% Year-on-Year Continued to Grow Market Share Sequentially Extended Gaming Sub-Concession to 2022 HONG KONG, April 30, 2019 /PRNewswire/ — MGM China Holdings Limited (“MGM … ( read original story …)
Weak Asia Data Greets U.S. Trade Negotiators Nearing China Deal
China’s manufacturing purchasing managers index stood at … first three months of last year and due to external uncertainties, according to the city’s financial secretary. Story continues There will … ( read original story …)
Asian shares fall as China manufacturing data disappoints
Japan’s financial markets remain closed for a national holiday as Japanese Emperor Akihito prepares to abdicate on Tuesday in favour of his elder son, Crown Prince Naruhito. Even before the China data … ( read…
Liquidity crunch: How private giants fall in China
As of last September, the most recent financial data available, the group was carrying 232 billion yuan in debt, 63% of it due within a year. As with other fast-growing private conglomerates such as ……
Pull Canadian investment in China development bank over canola ban, Scheer urges Trudeau
Key among them was for the government to yank back the $256 million over five years it committed to Beijing’s multilateral development bank in 2017. That investment in the bank was billed as … (…
Scheer demands the Liberals to do more in retaliating against China’s canola ban
and increase financial support for farmers. Citing unproven concerns about pests, China has rejected Canadian canola seed shipments in recent months and has suspended the licences of two major … ( read original story …)
China’s South China Sea strategy takes a hit as the US Navy threatens to get tough on Beijing’s sea forces
“made it very clear” to his Chinese counterpart in January that “that the US Navy will not be coerced,” the Financial Times reported, citing an interview with the Navy’s top admiral. “By injecting … (…
